If the quantity demanded changes by a relatively small amount for a given change in price, then demand is

The monopolistically competitive seller's demand curve will tend to become more elastic the:

A) smaller the number of sellers. B) greater the degree of product differentiation. C) larger the number of close competitors. D) more significant the barriers to entering an industry.

In a system of perfectly flexible exchange rates, an expansionary U.S. monetary policy will cause

a. a rise in the value of the dollar relative to foreign currencies. b. a fall in the value of the dollar relative to foreign currencies. c. no change in the value of the dollar relative to foreign currencies. d. a change in the value of the dollar relative to foreign currencies but the direction of the change is uncertain.